# Black Sea grain deal expires after Russia quits | Reuters

> Russia announced it was quitting the Black Sea grain deal, which expires as a result. U.S. wheat and corn futures slumped after earlier hitting two-week highs, as analysts said the deal might still be renewed and the risk was already priced in.

- Date: 2023-07-17 · published 2023-07-17T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/7057-black-sea-grain-deal-expires-after-russia-quits-reuters
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Expiry of the deal threatens Ukrainian grain export flows and raises freight and supply risk, which is supportive for wheat and corn, but the immediate price reaction was negative because of expectations of renewal.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2022-10-31 | [Wheat up 6% after Russia quits Black Sea pact; corn, soy firm \| Reuters](https://feedsoft.ai/events/39156-wheat-up-6-after-russia-quits-black-sea-pact-corn-soy-firm-reuters.md) | +3.1% | -2.2% |
| KWHEAT | 2022-10-31 | [Wheat futures jump, hitting record high in Sydney, after Russia exits Black Sea deal - Grain Price News](https://feedsoft.ai/events/39157-wheat-futures-jump-hitting-record-high-in-sydney-after-russia-exits-black-sea.md) | +3.1% | -2.2% |
| KWHEAT | 2026-09-01 | [GRAINS-Chicago wheat hits multi-year peak after Russia rejects Black Sea grain plan - NewsX](https://feedsoft.ai/events/12757-grains-chicago-wheat-hits-multi-year-peak-after-russia-rejects-black-sea-grain.md) | -1.9% | -9.4% |
| KWHEAT | 2026-07-31 | [EXCLUSIVE: Russian grain lobby says Kyiv's attacks threaten Black Sea exports, global food security \| Reuters](https://feedsoft.ai/events/14097-exclusive-russian-grain-lobby-says-kyiv-s-attacks-threaten-black-sea-exports.md) | -1.1% | +6.1% |
| KWHEAT | 2023-04-25 | [Wheat: All Eyes Are On Extension Of The Black Sea Grain Deal - TalkMarkets](https://feedsoft.ai/events/10363-wheat-all-eyes-are-on-extension-of-the-black-sea-grain-deal-talkmarkets.md) | -5.4% | -0.9% |
| WHEAT | 2022-10-31 | [U.N. Black Sea grain pact under threat as Russia quits \| Reuters](https://feedsoft.ai/events/14444-u-n-black-sea-grain-pact-under-threat-as-russia-quits-reuters.md) | -5.6% | +2.4% |
| WHEAT | 2023-06-01 | [Ukraine says Russia again blocking Black Sea grain export deal \| Reuters](https://feedsoft.ai/events/14384-ukraine-says-russia-again-blocking-black-sea-grain-export-deal-reuters.md) | -3.6% | +8.1% |
| WHEAT | 2022-10-31 | [Wheat up 6% after Russia quits Black Sea pact; corn, soy firm \| Reuters](https://feedsoft.ai/events/39156-wheat-up-6-after-russia-quits-black-sea-pact-corn-soy-firm-reuters.md) | -5.6% | +2.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/07/17/russia-ukraine-grain-deal-what-does-it-mean-for-global-food-prices.html
- grainbrokers.com.au: https://www.grainbrokers.com.au/black-sea-grain-corridor-torpedoed/
- producer.com: https://www.producer.com/news/wheat-jumps-as-russia-withdraws-from-black-sea-grains-deal/
- reuters.com: https://www.reuters.com/world/europe/black-sea-grain-deal-expire-monday-if-russia-quits-2023-07-17/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.